Inside the research
BXP, Inc.
BXP Research profile · latest available data
Price overview
$63.40
▲ +1.13 (+1.8%)
| 52w hi | $73.75 |
|---|---|
| 52w lo | $50.21 |
| Vol | 1.02M |
| As of | 25 Sep 2026 |
The Verdict
Our score -0.28
| Short | +0.07 |
|---|---|
| Medium | -0.39 |
| Long | -0.77 |
computed 2026-09-27
Key fundamentals
BXP, Inc.
Real Estate · REIT - Office
| Market cap | $11.47B |
|---|---|
| Enterprise value | $28.56B |
| Trailing P/E | 34.09x |
| Forward P/E | 28.52x |
| EV / EBITDA | 17.66x |
| P / S (ttm) | 3.59x |
| Profit margin | 9.3% |
| Return on equity | 5.3% |
| Revenue growth | +3.7% |
| Earnings growth | -23.2% |
| Debt / equity | 211.63 |
Layer Breakdown
| Layer | Raw | Contribution |
|---|---|---|
| Fundamental | -0.04 | |
| Sector | -0.04 | |
| Technical | -0.06 | |
| Earnings | +0.00 | |
| Sentiment | +0.00 |
macro × 1.00 · 2026-09-27
Business overview
BXP, Inc. is the largest publicly traded developer, owner, and manager of premier workplaces in the United States. It is concentrated in six dynamic gateway markets - Boston, Los Angeles, New York, San Francisco, Seattle, and Washington, DC. BXP has delivered places that power progress for our clients and communities for more than 55 years. BXP is a fully integrated real estate company, organized as a real estate investment trust (REIT). As of June 30, 2026, including properties owned by joint ventures, BXP's portfolio totals 51.1 million square feet and 164 properties, including six properties under construction/redevelopment. BXP's portfolio consists of 143 office properties, 13 retail properties, seven residential properties (including four residential properties under construction) and one hotel. BXP is well known for its in-house building management expertise and responsiveness to clients' needs. BXP holds a superior track record of developing premium Central Business District (CBD) office buildings, successful mixed-use complexes, suburban office centers and build-to-suit projects for a diverse array of creditworthy clients. BXP actively works to promote its growth and operations in a sustainable and responsible manner. BXP, Inc. was incorporated in 1970 in Delaware and is based in Massachusetts, Boston.
Risk Metrics
| Beta vs SPX | 0.89 |
|---|---|
| Corr SPX | 0.48 |
| Annual vol | 29.7% |
| Annual ret | -7.8% |
| Sharpe | -0.26 |
| Max DD | -43.1% |
Window: 504 trading days (504 obs)
Analyst Coverage
| Mean PT | $69.40 |
|---|---|
| High / Low | $89.00 / $58.00 |
| Median | $68.00 |
| Analysts | 20 |
| Strong Buy | 4 | |
|---|---|---|
| Buy | 7 | |
| Hold | 11 | |
| Sell | 0 | |
| Strong Sell | 0 |
Recent rating actions
| 2026-04-29 | Evercore ISI Group | → In-Line |
| 2026-04-15 | Citigroup | → Neutral |
| 2026-04-02 | Evercore ISI Group | → In-Line |
| 2026-04-01 | Piper Sandler | → Overweight |
| 2026-04-01 | JP Morgan | → Overweight |
| 2026-03-02 | Scotiabank | → Sector Perform |
Material Events
| Date | Event | 8-K |
|---|---|---|
| 2026-07-28 | Earnings Release, Exhibits | read |
| 2026-05-29 | 2.06, Exhibits | read |
| 2026-05-22 | Shareholder Vote, Exhibits | read |
| 2026-04-28 | Earnings Release, Exhibits | read |
| 2026-03-06 | Other Material Event, Exhibits | read |
| 2026-01-28 | Earnings Release, Exhibits | read |
| 2025-12-22 | Officer / Director Change, Reg FD Disclosure… | read |
| 2025-10-28 | Earnings Release, Exhibits | read |
| 2025-09-29 | Material Agreement, Material Obligation… | read |
| 2025-07-30 | Earnings Release, Exhibits | read |
| 2025-05-20 | Shareholder Vote, Exhibits | read |
| 2025-04-29 | Earnings Release, Exhibits | read |
Insider Trades
| Date | Insider | Role | Action | Shares | Value |
|---|---|---|---|---|---|
| 2026-06-09 | LABELLE MICHAEL E | EVP and CFO | Sell | 18.08K | $1.19M |
| 2026-06-09 | LABELLE MICHAEL E | EVP and CFO | Sell | 8.03K | $538.36K |
| 2026-06-04 | LABELLE MICHAEL E | EVP and CFO | C | 23.98K | — |
Flow & Concentration
| Insider 180d net | -$1.73M |
|---|---|
| Insider buys / sells | 0 / 2 |
| Insider bias | Neutral |
| 13F holders | 8 |
| Top-5 share | 96.8% |
| HHI | 3,134 (concentrated) |
Top Holders
| Holder | Value | Shares |
|---|---|---|
| State Street Corp | $659.64M | 9.85M |
| Norges Bank (Norway sovereign) | $627.77M | 9.47M |
| Citadel Advisors | $142.36M | 2.15M |
| Capital Research / Capital World | $99.89M | 1.51M |
| AQR Capital Management | $81.40M | 1.23M |
| Millennium Management | $47.86M | 721.69K |
| Fidelity / FMR LLC | $5.51M | 83.04K |
| T. Rowe Price Group | $70.30K | 1.06M |
As of 2026-06-30
Dividends
| Yield (TTM) | 3.31% |
|---|---|
| $ / share (TTM) | $2.10 |
| 5y CAGR | -3.0% |
Annual dividend per share
| 2021 | $3.92 |
|---|---|
| 2022 | $3.92 |
| 2023 | $3.92 |
| 2024 | $3.92 |
| 2025 | $3.36 |
| 2026 | $0.70 |
SEC Filings
The Long Run
FY 2009–2026 · 18 years
| Line | Latest | CAGR | Trend |
|---|---|---|---|
| Revenue | $872.15M | -3.2% | |
| Gross profit | $506.01M | -15.5% | |
| Operating income | $825.78M | +11.9% | |
| Net income | $61.18M | -3.1% | |
| Cash from ops | $156.47M | -7.9% |
Indices
Recent Sessions
| Date | Open | High | Low | Close | Vol |
|---|---|---|---|---|---|
| Sep 25 | $62.27 | $63.59 | $61.99 | $63.40 | 1.02M |
| Sep 24 | $62.41 | $62.62 | $61.72 | $62.27 | 1.26M |
| Sep 23 | $64.07 | $64.19 | $62.27 | $62.36 | 1.38M |
| Sep 22 | $64.45 | $64.65 | $63.38 | $64.31 | 1.59M |
| Sep 21 | $63.64 | $64.32 | $63.30 | $64.13 | 1.31M |
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